FLOKI Technical Analysis: Floki Buyers Plan A 20% Surge

FLOKI coin price shows a surge in the buying pressure within the rising channel pattern. Will the ongoing rally manage to touch $0.000035? Key technical points: FLOKI coin price shows a rising channel pattern. In addition, the altcoin struggles near the 100-period EMA in the 4-hour chart. Finally, the 24-hour trading volume of Floki Inu is $8.55 Million, marking a 32% rise. Past Performance of FLOKI The FLOKI coin price experienced a surge of buyer’s interest as the meme coin grew 22% last week. As a result, the price action forms a rising channel pattern in the 4-hour chart. Furthermore, the rally surpasses the 50 and 100-period EMA and the $0.000030 psychological mark. Source-Tradingview FLOKI Technical Analysis FLOKI coin price shows a bearish candle of 0.67% fall that cracks below the 100-day EMA. However, the lower price rejection evident in the 4-hour candle reflects the possibility of uptrend continuation. The crucial EMAs (50, 100, and 200) uphold the bearish alignment as the 50 and 100-period EMA collapse under increased buying pressure. Moreover, the 50-period EMA breakout flirts a rally to the 200-period EMA, accounting for an almost 20% price jump. RSI Indicator: The RSI slope continues the sideways movement in the nearly overbought zone and the 14-day SMA. Hence, the indicator shows a more substantial bullish presence in the 4-hour chart. MACD Indicator: The MACD and signal lines regain the bullish alignment and u...